Kodak Secures Financing to Pull Out of Bankruptcy

We've got some great news from Kodak
today. The company was able to secure the funding required and has
pulled itself out of bankruptcy. The company managed to pull
together $793 million and says that it will be reestablished as a
commercial printing company by the middle of 2013.

That funding comes with a condition -
Kodak must sell its massive portfolio of patents for at least $500
million. The folks at Kodak say that won't be a problem. They'll
also be selling off two business units and resolving pension
obligations in the UK.

"The additional liquidity from
this financing will enable Kodak to accelerate its momentum,"
says CEO Antonio Perez. "It establishes a clear path for our
emergence as a stronger, more focused company."